Ortelius Advisors, L.P. - May 27, 2022 Form 4 Insider Report for TRECORA RESOURCES (TREC)

Role: Former 10% owner
Signature: ORTELIUS ADVISORS, L.P. By: Ortelius Management, LLC, its general partner By: /s/ Peter DeSorcy Name: Peter DeSorcy Title: Managing Member
Stock symbol: TREC
Transactions as of: May 27, 2022
Transactions value $: -$25,995,975
Form type: 4
Date filed: 6/1/2022, 05:14 PM
Previous filing: Nov 5, 2021
Next filing: Jan 19, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	TREC	Common Stock	Sale	-$26M	-2.67M	-99.99%	$9.72	200	May 27, 2022	See footnotes	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Ortelius Advisors, L.P. is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	These shares include 2,327,824 shares disposed of by Pangaea Ventures, L.P. ("Pangaea") and 346,659 shares disposed of by Temnein Ventures III, L.P. ("Temnein"). The remaining 200 shares are held by Pangaea.
F2	Ortelius Advisors, L.P. (the "Adviser") is the investment manager of Pangaea and Temnein. Peter DeSorcy is the sole member of the general partner of the Adviser, and Mr. DeSorcy has a controlling interest in the Adviser. The Adviser and Mr. DeSorcy disclaim beneficial ownership of any of the shares of common stock owned by Pangaea and Temnein, except to the extent of their pecuniary interest therein.

Content

These shares include 2,327,824 shares disposed of by Pangaea Ventures, L.P. ("Pangaea") and 346,659 shares disposed of by Temnein Ventures III, L.P. ("Temnein"). The remaining 200 shares are held by Pangaea.

Ortelius Advisors, L.P. (the "Adviser") is the investment manager of Pangaea and Temnein. Peter DeSorcy is the sole member of the general partner of the Adviser, and Mr. DeSorcy has a controlling interest in the Adviser. The Adviser and Mr. DeSorcy disclaim beneficial ownership of any of the shares of common stock owned by Pangaea and Temnein, except to the extent of their pecuniary interest therein.